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ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์
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Myanmar’s local airlines face difficulties to expand due to expensive petrol and high tax rate (airline companies and stakeholders in the tourism industry)
Expensive petrol and high tax rate limit the expansion of local airlines and development of the aviation industry, according to the Department of Civil Aviation (DCA), airline companies and stakeholders in the tourism industry. In Myanmar, there are 10 domestic airlines and 58 planes in total which are serving local and international passengers. Compared with the rest of ASEAN, flights are rather costly, according to local airlines and the Union of Myanmar Travel Association (UMTA). -
Yangon New City Project will be carried out through collaboration with the World Bank, International Monetary Fund (IMF), International Finance Corporation (IFC) and foreign loans (Minister for Electricity, Industry, Road and Communication)
The Yangon New City Project will be carried out with collaboration from the World Bank, International Monetary Fund (IMF), International Finance Corporation (IFC) and foreign loans, said Yangon Region Minister for Electricity, Industry, Road and Communication Daw Nilar Kyaw at the 2nd Yangon Region Hluttaw meeting held on 10 July. The new city will be built in the area of Twantay, Kyimyindine and Seikkyi Kanaungto in the eastern part of Yangon. The city is estimated to take up 30,000 acres of land. Daw Nilar Kyaw said the current plan is to accommodate an additional one to two million people within Yangon’s borders. The government has estimated that Yangon will develop into a mega city in the next 10 years. The Yangon New City Project was submitted to the Region Hluttaw as a solution to Yangon’s ever growing population. -
UK-funded program will target companies with projects to strengthen value chains and promote inclusive economic growth in Myanmar
A grant window will be launched next month by a UK-funded program to target companies with projects to strengthen value chains and promote inclusive economic growth. In a briefing held by the British Chamber of Commerce Myanmar in Sule Shangri-La, Yangon, on July 7, Peter Brimble, the team leader from DaNa Facility, outlined the progress on the development of Myanmar’s private sector and the program’s latest action plan. He added that DaNa Facility (DaNa) will launch the Business Innovation Window in late August with an emphasis on businesses in agribusiness, community forestry, garments and textiles and financial inclusion. -
Industrial zones will be built in two major cities in Chin State (Chine State Minister for Electricity, Industry, and Road Transportation)
Industrial zones will be built in two major cities in Chin State – Hakha and Paletwa, and local and foreign investment will be welcome, according to a state minister. U Salai I Thakin, Chin state minister for electricity, industry and road transportation, told The Myanmar Times that surveys are being conducted in the cities to ensure that industrial zones can be established. A project plan will then be drawn up. Interested investors, state government officials and developers will be invited to invest and take part. Hakha is the state capital of Chin State while Paletwa is a major town in the region. -
In order to reduce the cost of power generation, the government intends to allow private companies to import Liquefied Natural Gas (LNG) to Myanmar
The government in¬tends to allow pri¬vate companies to import liquefied natural gas (LNG) to Myanmar in a bid to reduce the cost of power generation, a min¬ister has said. With the country strug¬gling to meet its growing demand for electricity the government sees import¬ing LNG and building LNG fired power plants as a possible short-term solution. “In the near future, we will liberalize restrictions on private sector involve¬ment for LNG imports,” U Pe Zin Tun, Minister of Electric Power and En¬ergy, told the audience at the Myanmar Oil and Gas Service Society Forum 2017 in Naypyitaw. -
The eighth Joint Coordinating Committee on Dawei (JCC) has decided to seek parliamentary approval in order to ask Thailand for a soft loan to fund the two-lane project
The eighth Joint Coordinating Committee (JCC) meeting was held in Thailand on June 29-30 and has decided to seek parliamentary approval in order to ask Thailand for a soft loan to fund the two-lane project. If approved, a task force will be formed to assess and review the development and issues caused by Italian-Thai Development (ITD) over a period of three months. In addition, officials from the Japanese government will take part in future JCC meetings, said U Myint San, vice chair of Dawei Special Economic Zone’s management committee. Commerce minister U Than Myint and Arkhom termpittayapaisith, Thailand’s transport minister, are the co-chairmen of the JCC. It is the first time the JCC meets under the NLD-led government. -
The final agreement for the construction of Hantharwady International Airport, located in the outskirts of Yangon, will be signed by Myanmar’s Department of Civil Aviation (DCA) in early 2018
Myanmar's Department of Civil Aviation (DCA) is set to sign the final agreement for the construction of Hantharwaddy International Airport in early 2018, the agency’s deputy director general told The Myanmar Times. The new airport, located on the outskirts of Yangon, would be able to handle more passengers and it will have modern facilities, according to DCA deputy secretary general U Ye Htut Aung. The Yangon International Airport’s optimal capacity is 2.7 million passengers but there were already three million passengers who entered used the airport in 2013, he added. The potential for the existing Yangon airport to expand is limited and it can no longer accommodate the increasing number of aircrafts. Hence, the government needs to construct a new airport to fulfil the demand. -
Grab and Wave Money signed an agreement to provide online payment for the taxi service in Yangon
Taxi service firm Grab and the e-payment platform Wave Money signed an agreement to provide online payment for the taxi service on June 29 in Yangon. Wave Money, the first licensed mobile-money service in the country, has detailed a plan to implement e-money accounts for Grab taxi drivers, moving the cash-based payment towards online transactions. “For Grab drivers, we will not collect charges for a Wave Money account. After adding money to that account, they can do many things such as transferring money, topping up mobile phone, paying their electricity bill etc,” said Brad Jones, CEO of Wave Money. Wave Money will provide Grab drivers an account and the drivers can deposit their money into those accounts. They can easily withdraw their daily income through 2,000 agents in Yangon. -
The drafting of the Master Plan for the Development of Tanitharyi Region will be led by the Japan International Cooperation Agency (JICA)
Japan International Cooperation Agency (JICA) will take the lead in the drafting of the master plan for Tanintharyi Region, according to a representative from JICA. The Myanmar government has asked the Japanese government for help in drawing up the Tanintharyi Region’s development master plan along with a comprehensive development plan for the Dawei special economic zone (SEZ) project. The request was made during official visits by Myanmar’s commerce minister and Tanintharyi Region’s chief minister in Japan and when State Counsellor Daw Aung San Suu Kyi held a meeting with Hiroto Izumi, special adviser to Japan’s Prime Minister Shinzo Abe, in August last year. -
The investment proposals have been submitted by seven local and foreign companies for the Thaton Industrial Zone in northern Mon State (Ministry of Industry)
Seven local and for¬eign companies have submitted invest¬ment proposals for the Thaton Industrial Zone in northern Mon State, ac¬cording to the Ministry of Industry. The ministry said it is in the process of implement¬ing the proposals put for¬ward for the 678 acre site, which include medicine, soft-drink and garment manufacturing facilities. “We will also work to approve future proposals, together with those that have been submitted and those approved compa¬nies will be allowed to use existing industrial build¬ings in the zone should they want,” said an official from the state-owned No. 3 Heavy Industrial Enter¬prise (HIE-3) which has been tasked with imple¬menting the project under the ministry.
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